1. Know-how negli investimenti
  2. Asset allocation

According to the investment outlook, we put together an asset allocation that takes into account the latest macroeconomic updates, specific risk profiles and reference currencies. Our most recent global macroeconomic views, asset-class outlook and asset allocation grids are published on a monthly basis.


  • GLOBAL TACTICAL ASSET ALLOCATION - Stay cautious against uncertain geopolitical backdrop
  • UBP ECONOMIC OUTLOOK - Strong growth, but less synchronised across regions
  • UBP ECONOMIC OUTLOOK - Escalating risks of protectionism
  • GLOBAL EQUITIES - Look to equity ‘surrogates’
  • GLOBAL BONDS - Interest rate risk rising
  • GLOBAL PORTFOLIO POSITIONING - Alternatives offer more attractive risk-return profile than traditional asset classes
  • RECENT PORTFOLIO CHANGES - Rotating from European to US equities, favour growth to value

Key Convictions



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Asset Allocation

July 2018

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